Group 1 - The Hong Kong stock market experienced a slight rebound after three consecutive days of decline, with the Hang Seng Index rising 0.35% to 25,145 points and the Hang Seng Tech Index increasing 0.52% to 5,608 points [1] - The textile and apparel sector showed overall strength, with notable gains from companies such as Li Ning (up over 3.5%), Anta Sports, and others [1] - The State Council issued an opinion aimed at enhancing sports consumption potential and promoting high-quality development in the sports industry, targeting a total scale exceeding 7 trillion yuan by 2030 [1] Group 2 - Goldman Sachs raised its target price for Hong Kong Exchanges and Clearing (HKEX) from 509 HKD to 524 HKD, maintaining a "Buy" rating, reflecting confidence in the company's strategic direction and long-term growth potential [2] - Despite a recent weak performance in the Hong Kong stock market, analysts believe that the market remains undervalued globally, with significant inflows from southbound funds exceeding 112.1 billion HKD in August [2] - Analysts from Guotai Junan Securities (Hong Kong) and Guoyuan Hong Kong express optimism about the structural opportunities in the Hong Kong market, particularly in the technology, consumer, and pharmaceutical sectors [2]

7月美国非农新增数据大幅低于预期，且前值出现断层式下修，反映出劳动力市场需求侧降温幅度快于供给侧，彻底点燃了 市场对美联储9月降息的强烈预期。 与此同时，美联储官员的表态也释放出宽松信号，全球流动性改善的脚步似乎近在咫尺。 而对于港股市场而言，尤其是对利率环境高度敏感的恒生科技指数，这一变化或将成为重要的催化剂。当前，恒生科技估 值处于历史相对低位，景气度逐步修复。 若美联储降息周期再度开启，恒生科技能否上演"大象起舞"？ （数据来源：CME FedWatch Tool，截至北京时间2025-08-05下午1点） （图片来源：华夏基金制作，2024年9月18日，美联储为"达成最大就业和2%的通胀目标"宣布降息50个bp，恒生科技指数 也开启一轮反弹修复） 01 9月降息或板上钉钉？ 2025年8月1日，美国劳工统计局公布了2025年7月的非农就业数据，显示美国就业市场出现明显降温迹象。数据显示，7月 美国新增非农就业仅7.3万人，远低于彭博一致预期的10.4万人。同时，5月和6月的非农就业数据累计大幅下修25.8万，分 别调整至1.9万人和1.4万人，下修幅度为2020年5月（-64.2万）以来最大。 这一报 ...